LEADER 04649nam 2200709Ia 450 001 9910784710503321 005 20230427205112.0 010 $a1-281-22347-6 010 $a9786611223472 010 $a0-226-26424-6 024 7 $a10.7208/9780226264240 035 $a(CKB)1000000000406212 035 $a(EBL)408270 035 $a(OCoLC)290516241 035 $a(SSID)ssj0000155111 035 $a(PQKBManifestationID)11162177 035 $a(PQKBTitleCode)TC0000155111 035 $a(PQKBWorkID)10098426 035 $a(PQKB)10967099 035 $a(MiAaPQ)EBC408270 035 $a(DE-B1597)535690 035 $a(OCoLC)781253999 035 $a(DE-B1597)9780226264240 035 $a(Au-PeEL)EBL408270 035 $a(CaPaEBR)ebr10216895 035 $a(CaONFJC)MIL122347 035 $a(EXLCZ)991000000000406212 100 $a20030401d1986 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 00$aFinancing corporate capital formation /$feditor, Benjamin M. Friedman 210 1$aChicago :$cUniversity of Chicago Press,$d1986. 215 $a1 online resource (140 pages) 225 1 $aA National Bureau of Economic Research project report 300 $aPapers presented at a conference held at Williamsburg, Va., Sept. 20-21, 1984, sponsored by the National Bureau of Economic Research. 311 0 $a0-226-26413-0 320 $aIncludes bibliographies and index. 327 $tFront matter --$tContents --$tAcknowledgments --$tFinancing Corporate Capital Formation: An Introduction and Overview --$t1. Have U.S. Corporations Grown Financially Weak? --$t2. Debt and Equity Returns Revisited --$t3. Risk and Required Returns on Debt and Equity --$t4. Implications of Government Deficits for Interest Rates, Equity Returns, and Corporate Financing --$t5. Valuing Financial Flexibility --$t6. The Economic Effects of the Corporate Income Tax: Changing Revenues and Changing Views --$tContributors --$tIndex 330 $aSix leading economists examine the financing of corporate capital formation in the U.S. economy. In clear and nontechnical terms, their papers provide valuable information for economists and nonspecialists interested in such questions as why interest rates are so high, why corporate debt has accelerated in recent years, and how government debt affects private financial markets. Addressing these questions, the contributors focus chiefly on three themes: the actual use of debt and equity financing by corporations in recent years; the factors that drive the financial markets' pricing of debt and equity securities; and the relationship between corporations' real investment decisions and their financial decisions. While some of the papers are primarily expository, others break new ground. Extending his previous work, Robert Taggart finds a closer relationship between corporate and government debt than has been supposed. Zvi Bodie, Alex Kane, and Robert McDonald conclude in their study that the volatility of interest rates under the Volcker regime has led to a rise in real interest rates because of investors' demand for a greater risk premium. All of the papers present empirical findings in a useful analytical framework. For its new findings and for its expert overview of issues central to an understanding of the U.S. economy, Financing Corporate Capital Formation should be of both historical and practical interest to students of economics and practitioners in the corporate and financial community. 410 0$aNational Bureau of Economic Research project report. 606 $aCapital$zUnited States$vCongresses 606 $aCorporations$zUnited States$xFinance$vCongresses 606 $aSaving and investment$zUnited States$vCongresses 610 $acorporate formation, corporations, economics, economists, finances, financing, united states of america, american society, economy, interest rates, debt, government debts, private financial markets, equity, pricing, investment decisions, volatility, risk, congress, politics, required returns, deficits, valuing flexibility, business. 615 0$aCapital 615 0$aCorporations$xFinance 615 0$aSaving and investment 676 $a338.7/4/0973 676 $a338.7/4/0973 676 $a658.152 701 $aFriedman$b Benjamin M$089048 712 02$aNational Bureau of Economic Research. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910784710503321 996 $aFinancing corporate capital formation$9695351 997 $aUNINA